My reference is the Hugo 2, as I haven't listened to the original Hugo. With the Hugo 2, almost all headphones I've used until now have benefited immensely. The H2 outputs clean, smooth, liquid power, and drives almost all headphones from 300 Ohm Dynamic drivers to 80 Ohm Planar headphones. The one headphone which I couldn't come to terms with is the Hifiman Arya with the Hugo 2, it was great in technicalities, but the sound was too analytical for my tastes, which was probably due to the F-R curve of the Arya, rather than the Hugo 2's fault.
The Hugo 2 has a very balanced sound with a wide sound stage and top class instrument seperation, the highlight feature being holography to each and every sound in the mix. There is a perception of being in the very sound space with the singer, and a certain depth and "reachability" to the sound. This is especially evident in vocal heavy tracks and acoustic recordings. Treble in the Hugo 2 is again to a very high level with phenomenal extension and texture to the treble. It is seldom harsh or sibilant, but it can be so, If the headphone is a treble happy one (All Beyerdynamic/Hifiman); hence pairing is key to get the best out of it.
Coming to the pricing, ₹1,70,000/- is of course on the deep end, but there remains some value...The Hugo 2 is an All-in-one Dac+Amp combo with its own battery power suppy. It is a portable solution to your music needs, so when you go to work, you can just unplug the cables, pop it in your briefcase with your headphones and take it to work, for world-class sound right at your desk. So, utilities are high compared to other $3000 DACs.
